Common use of Succession; Assignment Clause in Contracts

Succession; Assignment. (a) This Agreement shall inure to the benefit of and be binding upon the successors to the parties hereto. No assignment of this Agreement shall be made without the consent of the other party except as set forth below and without satisfaction of the Rating Agency Condition (except as permitted under clauses (b) and (c) below), provided that the Issuer may collaterally assign its interest in this Agreement to the Trustee under the Indenture. (b) Upon satisfaction of the Rating Agency Condition, this Agreement may be assigned by the Collateral Manager to an Affiliate thereof that has substantially the same personnel, or personnel with comparable expertise, as the Collateral Manager and that is capable of performing the obligations of the Collateral Manager under this Agreement; provided that satisfaction of the Rating Agency Condition shall not be required in connection with any assignment involving an internalization of the Collateral Manager or any assignment to a successor upon merger or acquisition. Notwithstanding the foregoing, the Collateral Manager shall provide S&P and Mxxxx’x with prompt notice of any assignment involving an internalization of the Collateral Manager. (c) This Agreement may be assigned by the Collateral Manager to any Person other than an Affiliate only upon satisfaction of the Rating Agency Condition and approval by a Majority of the Controlling Class. (d) Upon the execution and delivery of such a counterpart by the assignee, the Collateral Manager shall be released from further obligations pursuant to this Agreement, except with respect to the Collateral Manager’s obligations arising under Section ‎13 of this Agreement prior to such assignment and except with respect to the Collateral Manager’s obligations under the last sentence of Section ‎10 and Sections ‎7 and ‎12 hereof.

Succession; Assignment. (a) This Agreement shall inure to the benefit of and be binding upon the successors to the parties hereto. No assignment of this Agreement shall be made without the consent of the other party except as set forth below and without satisfaction of the Rating Agency Condition (except as permitted under clauses (b) and (c) below), provided that the Issuer may collaterally assign its interest in this Agreement to the Trustee under the Indenture. (b) Upon satisfaction of the Rating Agency Condition, this Agreement may be assigned by the Collateral Manager to an Affiliate thereof that has substantially the same personnel, or personnel with comparable expertise, as the Collateral Manager and that is capable of performing the obligations of the Collateral Manager under this Agreement; provided that satisfaction of the Rating Agency Condition shall not be required in connection with any assignment involving an internalization of the Collateral Manager or any assignment to a successor upon merger or acquisition. Notwithstanding the foregoing, the Collateral Manager shall provide S&P and Mxxxx’x Xxxxx’x with prompt notice of any assignment involving an internalization of the Collateral Manager. (c) This Agreement may be assigned by the Collateral Manager to any Person other than an Affiliate only upon satisfaction of the Rating Agency Condition and approval by a Majority of the Controlling Class. (d) Upon the execution and delivery of such a counterpart by the assignee, the Collateral Manager shall be released from further obligations pursuant to this Agreement, except with respect to the Collateral Manager’s obligations arising under Section ‎13 13 of this Agreement prior to such assignment and except with respect to the Collateral Manager’s obligations under the last sentence of Section ‎10 10 and Sections ‎7 7 and ‎12 12 hereof.

Succession; Assignment. (a) This Agreement shall inure to the benefit of and be binding upon the successors to the parties hereto. No assignment of this Agreement shall be made without the consent of the other party except as set forth below and without satisfaction of the Rating Agency Condition (except as permitted under clauses (b) and (c) below), provided that the Issuer may collaterally assign its interest in this Agreement to the Trustee under the Indenture. (b) Upon satisfaction of the Rating Agency Condition, this Agreement may be assigned by the Collateral Manager to an Affiliate thereof that has substantially the same personnel, or personnel with comparable expertise, as the Collateral Manager and that is capable of performing the obligations of the Collateral Manager under this Agreement; provided that satisfaction of the Rating Agency Condition shall not be required in connection with any assignment involving an internalization of the Collateral Manager or any assignment to a successor upon merger or acquisition. Notwithstanding the foregoing, the Collateral Manager shall provide S&P and Mxxxx’x with prompt notice of any assignment involving an internalization of the Collateral Manager. (c) This Agreement may be assigned by the Collateral Manager to any Person other than an Affiliate only upon satisfaction of the Rating Agency Condition and approval by a Majority of the Controlling Class. (d) Upon the execution and delivery of such a counterpart by the assignee, the Collateral Manager shall be released from further obligations pursuant to this Agreement, except with respect to the Collateral Manager’s obligations arising under Section ‎13 13 of this Agreement prior to such assignment and except with respect to the Collateral Manager’s obligations under the last sentence of Section ‎10 10 and Sections ‎7 7 and ‎12 12 hereof.

Succession; Assignment. (a) This Agreement shall inure to the benefit of and be binding upon the successors to the parties hereto. No assignment of this Agreement shall be made without the consent of the other party except as set forth below and without satisfaction of the Rating Agency Condition (except as permitted under clauses (b) and (c) below), provided that the Issuer may collaterally assign its interest in this Agreement to the Trustee under the Indenture. (b) Upon satisfaction of the Rating Agency Condition, this Agreement may be assigned by the Collateral Manager to an Affiliate thereof that has substantially the same personnel, or personnel with comparable expertise, as the Collateral Manager and that is capable of performing the obligations of the Collateral Manager under this Agreement; provided that satisfaction of the Rating Agency Condition shall not be required in connection with any assignment involving an internalization of the Collateral Manager or any assignment to a successor upon merger or acquisition. Notwithstanding the foregoing, the Collateral Manager shall provide S&P and Mxxxx’x with prompt notice of any assignment involving an internalization of the Collateral Manager. (c) This Agreement may be assigned by the Collateral Manager to any Person other than an Affiliate only upon satisfaction of the Rating Agency Condition and approval by a Majority of the Controlling Class. (d) Upon the execution and delivery of such a counterpart by the assignee, the Collateral Manager shall be released from further obligations pursuant to this Agreement, except with respect to the Collateral Manager’s obligations arising under Section ‎13 13 of this Agreement prior to such assignment and except with respect to the Collateral Manager’s obligations under the last sentence of Section ‎10 10 and Sections ‎7 7 and ‎12 12 hereof.

Succession; Assignment. (a) This Agreement shall inure to the benefit of and be binding upon the successors to the parties hereto. No assignment of this Agreement shall be made without the consent of the other party except as set forth below and without satisfaction of the Rating Agency Condition (except as permitted under clauses (b) and (c) below), provided that the Issuer may collaterally assign its interest in this Agreement to the Trustee under the Indenture. (b) Upon satisfaction of the Rating Agency Condition, this Agreement may be assigned by the Collateral Manager to an Affiliate thereof that has substantially the same personnel, or personnel with comparable expertise, as the Collateral Manager and that is capable of performing the obligations of the Collateral Manager under this Agreement; provided that satisfaction of the Rating Agency Condition shall not be required in connection with any assignment involving an internalization of the Collateral Manager or any assignment to a successor upon merger or acquisition. Notwithstanding the foregoing, the Collateral Manager shall provide S&P and Mxxxx’x with prompt notice of any assignment involving an internalization of the Collateral Manager. (c) This Agreement may be assigned by the Collateral Manager to any Person other than an Affiliate only upon satisfaction of the Rating Agency Condition and approval by a Majority of the Controlling Class. (d) Upon the execution and delivery of such a counterpart by the assignee, the Collateral Manager shall be released from further obligations pursuant to this Agreement, except with respect to the Collateral Manager’s obligations arising under Section ‎13 13 of this Agreement prior to such assignment and except with respect to the Collateral Manager’s obligations under the last sentence of Section ‎10 10 and Sections ‎7 7 and ‎12 12 hereof.

Succession; Assignment. (a) This Agreement shall inure to the benefit of and be binding upon the successors to the parties hereto. No assignment of this Agreement shall be made without the consent of the other party except as set forth below and without satisfaction of the Rating Agency Condition (except as permitted under clauses (b) and (c) below), provided that the Issuer may collaterally assign its interest in this Agreement to the Trustee under the Indenture. (b) Upon satisfaction of the Rating Agency Condition, this Agreement may be assigned by the Collateral Manager to an Affiliate thereof that has substantially the same personnel, or personnel with comparable expertise, as the Collateral Manager and that is capable of performing the obligations of the Collateral Manager under this Agreement; provided that satisfaction of the Rating Agency Condition shall not be required in connection with any assignment involving an internalization of the Collateral Manager or any assignment to a successor upon merger or acquisition. Notwithstanding the foregoing, the Collateral Manager shall provide S&P and Mxxxx’x with prompt notice of any assignment involving an internalization of the Collateral Manager. (c) This Agreement may be assigned by the Collateral Manager to any Person other than an Affiliate only upon satisfaction of the Rating Agency Condition and approval by a Majority of the Controlling Class. (d) Upon the execution and delivery of such a counterpart by the assignee, the Collateral Manager shall be released from further obligations pursuant to this Agreement, except with respect to the Collateral Manager’s obligations arising under Section ‎13 13 of this Agreement prior to such assignment and except with respect to the Collateral Manager’s obligations under the last sentence of Section ‎10 10 and Sections ‎7 7 and ‎12 12 hereof.